Webster Bank NA has decreased its stake in Intel Co. (NASDAQ: INTC) by 11.0% in the first quarter, according to their filing with the Securities and Exchange Commission. The bank now owns 17,721 shares of Intel after selling 2,200 shares during the quarter, with holdings valued at $783,000 at the time of the filing.
Several other hedge funds have also made changes to their Intel holdings. Trexquant Investment LP acquired a new stake in Intel during the third quarter, while Morningstar Investment Services LLC and CWA Asset Management Group LLC also added to their positions. Sherbrooke Park Advisers LLC and Ironwood Investment Counsel LLC were among the other funds that modified their holdings in Intel during the same period.
Wall Street analysts have provided varying opinions on the company, with some lowering their price targets while others increasing theirs. Analysts at HSBC, Wedbush, and Truist Financial have revised their price targets downwards, while UBS Group and Benchmark have raised theirs. Currently, Intel has a consensus rating of “Hold” and an average price target of $39.58, based on data from MarketBeat.
In terms of insider trading, CEO Patrick Gelsinger purchased several thousand shares of Intel stock in various transactions, with the most recent one occurring on May 1st. The CEOs direct ownership of the company’s stock now stands at 39,375 shares, valued at $1,192,668.75.
Intel’s stock performance has been mixed, with the company opening at $30.97 on a recent trading day. The company currently has a market capitalization of $131.84 billion, with a debt-to-equity ratio of 0.43. Intel’s 50-day and 200-day simple moving averages are $31.08 and $39.50, respectively. The company reported quarterly results on April 25, falling short of analysts’ earnings estimates but meeting revenue expectations.
Intel also announced a quarterly dividend, with shareholders receiving $0.125 per share. The company’s dividend payout ratio currently stands at 52.08%, with an annualized yield of 1.61%.
As for Intel’s business operations, the company designs, develops, and sells computing and related products and services worldwide. They operate through various segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services.
In conclusion, Intel has seen changes in its ownership structure, stock performance, analyst recommendations, insider trading activity, and dividend payouts. The company continues to navigate the competitive landscape of the tech industry while focusing on innovation and growth in its various business segments.
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